Queensland LNG exports hit $1b in six months

QUEENSLAND'S liquefied natural gas exports have hit $1 billion in just six months since shipments began, according to state treasurer Curtis Pitt.

Mr Pitt said according to official Australian Bureau of Statistics data, the value of Queensland's overall merchandise exports also was accelerating.

>> LNG projects will struggle to break even: analyst

"The nominal value of Queensland merchandise exports rose 20 per cent over the year to July quarter 2015," Mr Pitt said.

"Growth over the year was driven by the ramp up of LNG exports, which commenced in January 2015, along with increases in the value of meat and coal exports."

Mr Pitt said Queensland's LNG industry exported $1.14 billion worth of gas from January to July.

"LNG is one of Queensland's great economic success stories, one that will continue to shape the state economy in coming decades," he said.

"LNG exports are projected to hit $15 billion by 2016-17, earning the state valuable export dollars and annual royalties while supporting thousands of jobs."

According to the ABS, Queensland meat exports rose 33.1 per cent over the year to the July quarter 2015.

"Minerals exports hit $2.3 billion in the July quarter 2015, a rise of 25.2 per cent compared to the same time last year," he said.

"Each of Queensland's major mineral exports recorded rises over the year.

"Queensland's crops exports also grew by $375 million, driven by strong increases in grain sorghum exports."

Mr Pitt said with rising merchandise and LNG exports and a rebounding tourism sector, Queensland had all the right ingredients for growth.

Topics:  curtis island curtis pitt exports gas gladstone lng

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